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Draft Legislation

An exposure draft of legislation restating the ‘in Australia’ special conditions for tax concession entities has been released by the Assistant Treasurer for public consultation. The legislation is designed to ensure that:

income tax exempt entities generally must be operated principally in Australia and for the broad benefit of the Australian community; and

deductible gift recipients generally must be operated solely in Australia and for the broad benefit of the Australian community.

Copies of this draft and explanatory material are available from Treasury.